Gold Mountain (ASX:GMN) has completed the acquisition of Mars Mines’ 25% free-carried interest in its Brazil joint venture for $612,013, satisfied through the issue of 9,158,445 shares at a deemed price of $0.066825, as approved at the company’s annual general meeting.
The acquisition gives Gold Mountain 100% ownership and full strategic control of the joint venture, streamlining corporate structure, enhancing decision-making efficiency, and ensuring that future exploration success directly benefits GMN shareholders.
The company said full ownership provides greater flexibility in advancing exploration and development activities in Brazil, allowing it to set priorities, optimise capital allocation, and evaluate strategic alternatives, including potential partnerships or future development pathways.
Gold Mountain believes the move materially strengthens its asset portfolio and aligns with its strategy of building a focused, scalable exploration platform, and it plans to accelerate activity across the project while keeping shareholders updated on exploration progress.
At the time of reporting, Gold Mountain's share price was $0.070.